In 2003, the Supreme Court

question 202

Multiple Choice

In 2003, the Supreme Court

• A) upheld and allowed using race as a factor in college admissions.
• B) struck down and has forbidden using race as a factor in college admissions.
• C) upheld an admissions system that awarded points for race.
• D) overturned the Bakke decision.
• E) ruled on California's Proposition 209.

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Definitions:

Variable Costing

A costing method that only includes variable production costs in product costs, treating fixed manufacturing costs as period expenses.

Product Costs

Costs that are directly tied to the production of goods, including raw materials, direct labor, and manufacturing overhead.

Contribution Margin Report

A financial report that shows the difference between a company's sales revenue and variable costs, which contributes towards covering the company's fixed costs and generating profit.

Manufacturing Margin

The difference between the sales revenue of manufactured products and their production costs (excluding indirect costs).